Blogs > What is Digital Gold? How is it different from Physical Gold?
What is Digital Gold? How is it different from Physical Gold?
For us Indians, gold holds a special place in our hearts. It doesn’t matter which part of India you belong to; gold is one asset class in almost every culture. For ages, we have seen our parents and grandparents investing in gold, keeping it safe in their ‘tijoris’, and passing on this significant value to us – to invest in gold.
This is because gold is one asset that grows forever. Against all the assets in which you invest, gold is one of the only assets that grows in value and is one of the least risky assets to invest in.
But since the world is shifting to digitalization, gold in digital forms has been gaining popularity. We are presenting IndiaLends Digital Gold.
Let’s first understand what Digital Gold is.
Digital gold is a modern investment asset alternative to physical gold. It allows individuals to buy, sell, and hold gold electronically, offering accessibility and convenience. Unlike traditional physical gold, digital gold is stored electronically in a safe digital gold vault, eliminating concerns related to secure storage.
More about investment in digital gold
Digital gold platforms enable investors to buy and sell gold electronically, offering accessibility and convenience. With digital gold, your investments can start for even Re. 1. Digital gold ensures transparency, security, and a proper record of transactions. This eliminates physical storage and enhances liquidity, allowing investors to buy or sell anytime seamlessly. Also, since gold prices are subject to market fluctuations, real-time price information and lower transaction costs make digital gold an attractive and cost-effective alternative to traditional physical gold investments, catering to the preferences of a tech-savvy generation seeking modern solutions in precious metal investments.
What are the benefits of investing in digital gold, and how is it different from physical gold?
1. Investments can start at Re. 1: Unlike Physical Gold, where you have to buy at least 100mg or 1g of gold (in the form of gold coin, etc.), digital gold can be bought for an amount as low as Re. 1. So you can start your investment journey for any amount you want.
2. Elimination of making charges: When you purchase gold in physical form, there are always making charges for it, but with digital gold, you have to pay no making charges for it. To compare it, if you're buying a 100 mg gold coin, it will cost you Rs. 990. But for the same amount of gold, 100 mg digital gold will cost you Rs. 660 (prices calculated as of 07/12/2023).
3. Quality: When you buy physical gold, there's always a doubt about its purity. Whether it is 22K or 18K gold, but with digital gold, there is no such thing. Digital gold is always 24K quality.
4. Uniformity of prices: Physical gold prices may or may not be the same throughout the country. On the other hand, digital gold prices are uniform in the entire country.
5. Safety: With physical gold, there's always a problem of storing the gold safely at some place, but digital gold gets stored securely in your secure gold vault.
6. Tracking: To track your current value of physical gold is a bit of a challenge. Digital gold helps you to know the currently updated value of your asset. It's a real-time tracking mechanism.
Why IndiaLends Digital Gold?
With IndiaLends Digital Gold, you can:
- Easy to keep track of your investments: You can buy, sell and gift 24K, 99.9% pure gold. Moreover, you can keep an easy track of when and how your gold is growing
- Hassle-free cancellation: You can cancel the transaction at any time.
- Buy, sell, and gift in a click: On our Digital Gold dashboard, you can buy, sell, or gift gold anytime in a minute.
And the cherry on the top, we’re partnered with Augmont, India's No.1 Gold Platform
- NABL and BIS-accredited
- 24K, 99.9% Pure Digital Gold
Did you know? You can gift gold using IndiaLends Digital Gold. All you have to do is:
- Open the IndiaLends app
- Click on Digital Gold
- Create your gift card
- Enter the recipient's name and number
- Enter the amount or amount of gold you wish to gift
- Click on 'Send Gift'
Check out “Digital Gold”. Download the IndiaLends app NOW!
